Buyers Looking For Deals In Foreclosed Homes | WAMU 88.5 - American University Radio

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Buyers Looking For Deals In Foreclosed Homes

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By Natalie Neumann

More than 85 foreclosed properties in the area will soon have new owners. Buyers came looking for a deal at yesterday's auction for foreclosed homes.

Close to 100 people from rental companies, investors hoping to resell and families looking to buy a new home attended the foreclosure auction at the Renaissance Washington, in downtown D.C.

Rebecca and Luke Wilson own a condo in Columbia, Maryland, but they’re looking for something bigger at a good price.

“We’re just hoping to get something as cheap as possible," says Rebecca.

"We’re having a baby so we’d just like some more room and this house seems like it's going at a good price,” says Luke.

The Wilsons bid on a three bedroom home in Elkridge, Maryland. But halfway through the auction the price went above what they were willing to pay.

“We weren’t willing to pay market price. That’s why we went to an auction,” says Luke.

Rebecca says it wasn’t their dream home, but says if another action pops up, they’ll try their luck again.

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